Am I subject to IRS enforcement action while my IRS Offer in Compromise is pending?

It can take several months to successfully negotiate an OIC with the IRS. Many taxpayers are concerned that the IRS can take action against them for the tax debt they owe while their OIC is pending. It is a great relief to know that you are protected fully from action by the IRS while your OIC is pending. This means that the IRS cannot seize your wages or assets during this period. Contact XL Consulting, LLC

Will an IRS Offer in Compromise (OIC) affect my credit report?

Applying for an Offer in Compromise may in fact help to improve your credit report. If you have a large tax debt that you have failed to pay, the IRS will file a Notice of Federal Tax Lien against you. This appears on your credit report and will damage your credit score. When your OIC negotiation is complete and you have paid the settlement in full, the IRS will release the tax lien. It will be listed to credit bureaus as having been paid in full. While your OIC will not appear on your credit report, the tax lien will and will remain on your credit report for a period of 7 years after the date that it has been released. However, it will appear to creditors as ‘Satisfied’ to show that it was paid in full and you no longer have an IRS debt. Contact XL Consulting, LLC

IRS Offer in Compromise Services in Essex County | OIC Tax Professional in Newark, NJ

OIC Tax Professional in Newark, NJ Representing Clients in Essex County and Throughout NJ

Many taxpayers struggle with tax debt. However, some have debt that is so overwhelming that it may prove impossible to pay. An IRS Offer in Compromise (OIC) may be a good option in such a situation. An OIC is an agreement between a taxpayer and the IRS that allows the taxpayer to settle their tax debt without paying the full amount. While it sounds like a great way to achieve a clean slate with the IRS, it is by no means an easy path to take. Only a few OICs are accepted by the IRS every year. The chances of getting your OIC accepted can be very slim. However, our IRS offer in compromise services in Essex County can help to increase your chances of success.

We’ve helped many taxpayers navigate the OIC process successfully. We give you the opportunity to work with a highly skilled and experienced OIC tax professional in Newark, NJ.

Scott Schneider's personalized service ensures that he is able to provide clients with solutions that meet their particular needs and requirements. He will work to secure the best outcome in your case.

Contact Scott Schneider at XL Consulting, LLC to Find a Solution to Your Tax Issue Today.

Are IRS Offer in Compromise Services in Essex County For You?

Are you wondering whether you should contact an OIC tax professional in Newark, NJ? Here are some signs that you will benefit from professional OIC services.

You do not have experience dealing with the IRS

We deal with IRS-related problems on a day-to-day basis. Our founder, Scott Schneider worked as a revenue agent with the IRS prior to becoming a tax consultant. We have a good understanding of how the IRS works and the best approach to take when dealing with matters involving the agency.

You want to secure the lowest possible settlement

The OIC process involves extensive negotiations with the IRS. If your offer is too low, the IRS will not accept your OIC. We know how to calculate OIC offers and will guide you in determining an optimum offer. You can trust us to act in your best interests.

You’re seeking a business OIC

As if the OIC process wasn’t complex enough, securing an OIC for your business is even tougher. The chances of obtaining relief through an OIC are slimmer. We are familiar with the IRS Offer in Compromise process. We will guide you through the process and help improve your chances of success.

You’re not sure whether an OIC is right for you

An OIC is a great option to get some relief when faced with overwhelming tax debt. However, it is not the only option available and may not be the best option for you. Contact us for a free initial consultation with an OIC tax professional in Newark, NJ, and have your case reviewed to determine your chances of success as well as other options available to you.

About IRS Offer in Compromise in Essex County, NJ

Essex County is located in New Jersey. The state is in fact the second most populous state in New Jersey with a population of 863, 728 as of the 2020 census. The seat of the county is the city of Newark. Essex is one of the eight highest-earning counties in New Jersey.

Tens of thousands of OIC offers are received by the IRS every year. However, only about 20 percent of these offers are approved. Not only is it challenging to negotiate for an OIC to be accepted by the IRS but the chances of having it accepted are also quite slim. It helps to have the guidance and representation of an experienced tax professional. Contact XL Consulting, LLC for representation by a highly skilled OIC tax professional in Newark, NJ, and get help with solving your tax issues.

Do You Have a Tax Problem? Are You Facing Tax Liabilities That Amount to More Than $50,000? Get in Touch Today to Schedule a Free Initial Consultation With Tax Practitioner Scott Schneider of XL Consulting, LLC.

Contact XL Consulting, LLC for Quality IRS Offer in Compromise Services in Essex County

Are you seeking help with an IRS offer in compromise? Contact Scott Schneider at XL Consulting, LLC to schedule a free initial consultation with an experienced OIC tax professional in Newark, NJ. Scott will provide you with a thorough review of your case and help you determine whether an OIC is the best option for you. At XL Consulting, LLC, we provide guidance and representation for clients throughout the OIC process. Contact us to learn more about how we can help.

IRS Offer in Compromise Services in Essex County